i went for a bad credit loan and the company said i have got the loan but i have to pay 49pounds.fee is thisok
to pay and does it mean i have got the money i need .i live in england so uk answers only thank you.
No not at all. Any company or lender who is asking for a upfront to give a loan is probably a scam. They get the fee from you and disappear. It is not advisable to pay the fee. I have heared many incidents like this.
Why do you want to give fee while you can easily get a bad credit loan for free. Yes this is true. Since many people are having bad credit, lenders have come up with bad credit loan in which lenders give loan for people with bad credit and that too for a god interest rate.
All you have to do is visit the lenders site and apply online. This is the easiest and fastest way of getting loan. Read their terms in their website and apply online.
I hpe http://loan-guides.net will help you in getting a bad credit loan online.
yes it is admin fees it be going around 4 years
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Go to Citizens Advise tomorrow
They have people who can help — and know what they are talking about.
Your local C.A.B. office should be in the phonebook
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Ooops, not familiar with UK lending.
No, its a scam. I am a commercial loan officer for over 20 years.
They tell you to pay the fee and then… you get nothing. Bad credit loan scams are the worst kind.
If you have a question go to http://prosper.com
You can get a real personal loan at a lower rate upto $25,000 dollars.
Good Luck…
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I did this through Yes Loans and they charged me £49.50 admin fee saying i’d definitely got the loan. I cancelled it when I found out the extortionate interest rates and also having to get it guarantoured twice. I am still waiting for my admin fee back so please be warned.
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I would say steer clear, my partner did this. They were able to find him a loan for a less amount then he asked, but the APR was absolutely rediculous, the repayments were huge etc…. However as they found him a loan, reguardless of the amount etc, they felt they had fullfilled their side of the bargain, hense he lost the £49 and didn’t take out the loan,
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Whatever you do…..DONT GET THAT LOAN……this is such a scam, you are not 100% guarenteed to get that loan, you will never see that money again, even if some companys like this promise a refund your looking at a 6 month + battle to get that refund……your bet of trying to speak to the advice bereau and getting help in sorting your finances and then builing up your credit, i know its hard, trust me i have been at rock bottom and still working on my credit scoring and its so hard but if you get another loan, your scoring will just get worse, even if you pay of other debts, you still have a bad loan on your head…..
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It depends on the organisation offering the loan. It might be a scam, but it might be to insure themselves against you not paying the money back.
I think you’d be better off paying 49 pounds to a debt counsellor or an accountant, or talking to citizens advice.
Don’t believe anyone who tells you they can consolidate your debts and you’ll pay less every month. It’s technically true, but only because you pay for a lot more months. If you didn’t end up with more debt than you originally owed, the debt consolidators wouldn’t make any money.
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No not at all. Any company or lender who is asking for a upfront to give a loan is probably a scam. They get the fee from you and disappear. It is not advisable to pay the fee. I have heared many incidents like this.
Why do you want to give fee while you can easily get a bad credit loan for free. Yes this is true. Since many people are having bad credit, lenders have come up with bad credit loan in which lenders give loan for people with bad credit and that too for a god interest rate.
All you have to do is visit the lenders site and apply online. This is the easiest and fastest way of getting loan. Read their terms in their website and apply online.
I hpe http://loan-guides.net will help you in getting a bad credit loan online.
References :